AMENDMENT
to the
LETTER AGREEMENT
between
THE INTER-AMERICAN DEVELOPMENT BANK
and
NORWEGIAN AGENCY FOR DEVELOPMENT COOPERATION – NORAD
WHEREAS, the Inter-American Development Bank (hereinafter referred to as the “Bank”) and the
Norwegian Agency for Development Cooperation (hereinafter referred to as “Norad”) (hereinafter
referred to as the “Parties”, and individually, each a “Party”) signed on December 8, 2014 a Letter
Agreement concerning Norad’s contribution to the Amaila Falls hydroelectric power generation facility
and associated infrastructure to be located on the confluence of the Amaila and Kuribrong rivers in west
central Guyana (the “Letter Agreement”); and
WHEREAS, Norad and the Bank agreed that, until the Grant Proposal and the Senior Loan are approved by
the Board of Exeutive Directors of the Bank, the Bank would receive and manage the amounts made
available by Norad for eventual allocation to the Grant in accordance with the provisions contained in the
Letter Agreement.
NOW THEREFORE, following discussions held between representatives of Norad and the Bank
concerning the Letter Agreement, Norad and the Bank hereby agree to amend the Letter Agreement, as
follows:
1. Amend paragraph 4 of the Letter Agreement in its entirety which will read as follows:
“4. Norad shall make available to the Bank an amount of U.S.$80,035,000 (eighty million and thirty
five thousand U.S. dollars) however not exceeding NOK 600,000,000 (six hundred million
Norwegian Kroner) (the “Contribution”), to be received and managed by the Bank as set forth in this
Letter Agreement. The Contribution shall cover set-up costs under this Letter of Agreement. Norad
shall transfer the Contribution to the Bank in two (2) disbursements into the account to be indicated
by the Bank in the respective written requests for disbursement (each a “Disbursement Request”) and
in accordance with the following schedule:
No
1)
Date:
Upon signature of this Letter Agreement
by the Parties:
Amount:
US$ 76.445.739,94 (seventy six million,
four hundred forty five thousand, seven
hundred thirty nine U.S. Dollars and ninety
four
cents)
2)
No later than January 31, 2015:
US$ 3.589.260,06 (three million, five
hundred eighty nine thousand, two hundred
sixty U.S. Dollars and six cents)
2. Amend paragraph 5 of the Letter Agreement in its entirety which will read as follows:
“5. Upon receipt of the respective disbursements of the Contribution, and subject to paragraph 8
below, the Bank shall deposit such Contribution into an account opened by the Bank denominated
the “Inter-American Development Bank – Norwegian Grant for Guyana” (the “Account”). The
date of the receipt of the second disbursement of the Contribution in the Account shall be referred
to as the “Transfer Date”.”
3. Amend paragraph 18 of the Letter Agreement in its entirety which will read as follows:
“18. This Letter Agreement will come into force on the date of its signature by both parties and
will remain in force until all rights and obligations contemplated herein have been exercised.”
4.
This amendment shall enter into force on the date of its signature by both Parties and shall
constitute an amendment to, and form an integral part of, the Letter Agreement.
5. All other terms and provisions of the Letter Agreement not expressly modified herein shall
remain in full force and effect. Capitalized terms used but not defined in this amendment shall
have the meanings ascribed to them in the Letter Agreement.
6. Subject to the Parties’ policies and procedures with respect to the disclosure of information, the
Parties may make this amendment publicly available.
IN WITNESS WHEREOF, the Parties hereto, each acting through its duly authorized representative,
have signed this amendment in two (2) original counterparts in the English language.
INTER-AMERICAN
NORWEGIAN AGENCY FOR
DEVELOPMENT BANK
DEVELOPMENT COOPERATION
(NORAD)
Original Signed
Bernardo Guillamon
Manager, Office of Outreach and Partnerships
Date: 01/20/2015
Original Signed
Einar Telnes
Director
Date: 01/21/2015